South Australian Consolidated Acts South Australian Consolidated Acts18—Disposition in consideration of reservation of benefit
(1) Where any
disposition of property is made subject to a reservation of any benefit or
advantage in favour of the person by whom the disposition is made, and the
whole or any part of that benefit or advantage is subsequently made the
subject of a gift from the person by whom the disposition is made to the
person to whom it is made, the subsequent gift shall be deemed to have been
made at the time of the earlier disposition or upon the third day of December,
1968, whichever is the later.
(2) Where a
disposition of property is made—
(a) in
consideration of a sum payable on demand or at a future date and upon terms
agreed between the persons by whom and to whom the disposition is made; or
(b) in
part as a gift and in part in consideration of a sum payable on demand or at a
future date and upon terms agreed between the persons by whom and to whom the
disposition is made,
that consideration shall be deemed not to be a reservation of benefit or
advantage for the purposes of subsection (1) of this section.